Hello....we are currently looking for anyone that has any
ideas or can help with financing a new and used sporting goods
I've been in business for over 2 years and am looking to
expand to carry more of an inventory and selection, to what
the customers want.
Unfortunately my funds are very limited.
We like to donate and give as many items to kids who otherwise
could not compete or play in sportsdue to financial restraint.
We try to help out as much as possible by making their
dreams of playing in sports a reality.
But we need to also make a profit which in turn gives us the
option to purchase more so we too can move forward.
Tough to explain all here, but overall the business I'm in
gives parents the option to buy used sports equipment at
excellent prices,thus giving their kids a chance to play
without putting out too much money oon new equipment,also
after the kid grows out of the equipment, they can bring it
back to trade for store credit or consign it to get some money
back when it sells....
Thanks to all who have read this and any ideas on where to
get extra funding, please let us know ......
#1. "RE: LOOKING FOR BUSINESS INVESTOR" In response to Reply # 0
hi. you probably don't want an investor. the reason is he or she will be looking for a return commensurate with their risk. a minimum of 20-25% and usually much more. they also will be looking for an exit strategy, meaning how to sell their interest.
the good news is you have an interesting business with intrinsic value. that is newsworthy. i suggest you do some PR work to get some press coverage.
if you only have the one store, you have what i would call a proto-business. that is, you own your job. the only way you are likely to make money will be to live as cheaply as possible to take as little out of the business as possible and build your inventory that way.
you might also talk with your suppliers. manufacturers might well be interested in helping in some way either through extended terms (which would give you more working capital) or perhaps donations (factory seconds) that would help increase inventory, push up your volume and inventory turns and therefore your retained earnings with which you could build your invenory base and ad budget.
once things are working better, whatever you do, don't open a second store! it takes just as much management infrastructure to run five stores as it does to run two properly and with two you don't have the revenue to support that infrastructure. if you get to the point where you want to expand, plan and capitalize for five and drive there as fast as you can. getting stuck with only two locations is the worst case scenario.
#2. "RE: LOOKING FOR BUSINESS INVESTOR" In response to Reply # 0
A while ago my friend needed some working capital for her Laundromat; she needed to replace some machines that were in disrepair. She was turned down by the bank, they only lend money to those who DON'T NEED IT!! She spoke with a business Coach, a Bill Topp who was able to assist her and get her the funds she needed in order to get the equipment she needed. I don't remember how she found him but she gave me his phone # in case I might need it for my gemstone business. Here's his phone number 269-341-9263 you might want to give him a call, I don't know if he can help but you never know. Good Luck..